Big firms see scope for offshore opportunities

The news comes hot on the heels of the acquisition of Close Offshore Group by Kleinwort Benson. Both acquisitions underpin plans for both groups to grow activities in private banking and wealth management. The SGPB Hambros acquisition follows a number of years of rapid growth since Hambros Bank was itself acquired by Societe Generale in 1998 to develop private banking in the UK and the Channel Islands. "The acquisition is consistent with Societe Generale Private Banking’s global strategy to expand both through internal and selective external growth in order to increase its presence in k...